{"id":6009,"date":"2011-09-19T14:59:36","date_gmt":"2011-09-19T13:59:36","guid":{"rendered":"http:\/\/www.ethicalquote.com\/?p=6009"},"modified":"2011-09-21T15:03:19","modified_gmt":"2011-09-21T14:03:19","slug":"drcs","status":"publish","type":"post","link":"https:\/\/www.covalence.ch\/index.php\/2011\/09\/19\/drcs\/","title":{"rendered":"DRC&#8217;s Gecamines to audit all JVs, revive exports"},"content":{"rendered":"<p><a href=\"http:\/\/www.miningweekly.com\/article\/drcs-gecamines-to-audit-all-jvs-revive-exports-2011-09-15\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-6011\" title=\"110921_gecamine\" src=\"http:\/\/www.ethicalquote.com\/newTemplate\/wp-content\/uploads\/2011\/09\/110921_gecamine.jpg\" alt=\"\" width=\"200\" height=\"130\" \/><\/a>Democratic Republic of Congo&#8217;s State-owned mining company Gecamines  will invest $930-million in a bid to re-establish itself as a major  copper and cobalt producer, and will launch audits of its existing joint  ventures to help raise the cash, the company said. The plan could put Gecamines, a former mining heavyweight created by authoritarian leader Mobutu Sese Seko after independence in 1960, on a collision course with joint-venture  partners such as Freeport McMoRan, Glencore-owned Katanga Mining and  ENRC, over how much they are required to pay. &#8220;All the terms of reference (of the audit) will be shown in a  transparent manner to our partners,&#8221; Albert Yuma, the president of the  company&#8217;s board of directors, told Reuters in an interview on Wednesday. &#8220;All we want is to assure ourselves that Gecamines is getting all its  dues in the execution of the joint venture contracts, and in the  financing of investments and the sale of minerals,&#8221; he said. Gecamines, crippled by $1.6-billion of debt after years of corruption  and mismanagement, aims to increase independent production and will not  sign further partnership deals with foreign firms, Yuma said. <a href=\"http:\/\/www.miningweekly.com\/article\/drcs-gecamines-to-audit-all-jvs-revive-exports-2011-09-15\" target=\"_blank\">More&#8230;<\/a><\/p>\n<p>Message received by Covalence | Country: DRC |\u00c2\u00a0 Source: <a href=\"http:\/\/www.miningweekly.com\/article\/drcs-gecamines-to-audit-all-jvs-revive-exports-2011-09-15\" target=\"_blank\">MiningWeekly.com<\/a> | Companies: Freeport McMoRan, Glencore | Correspondent: Jean Marie Bolika   Lokumbo; Initiative Locale pour le  D\u00e9veloppement Int\u00e9gr\u00e9<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Democratic Republic of Congo&#8217;s State-owned mining company Gecamines will invest $930-million in a bid to re-establish itself as a major copper and cobalt producer, and will launch audits of its existing joint ventures to help raise the cash, the company said. The plan could put Gecamines, a former mining heavyweight created by authoritarian leader Mobutu&hellip;<\/p>\n","protected":false},"author":665,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"wds_primary_category":0,"wds_primary_post_series":0,"footnotes":""},"categories":[6],"tags":[625,681],"post_series":[],"class_list":["post-6009","post","type-post","status-publish","format-standard","hentry","category-messages","tag-freeport-mcmoran","tag-glencore","entry","no-media"],"_links":{"self":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/posts\/6009","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/users\/665"}],"replies":[{"embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/comments?post=6009"}],"version-history":[{"count":0,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/posts\/6009\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/media?parent=6009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/categories?post=6009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/tags?post=6009"},{"taxonomy":"post_series","embeddable":true,"href":"https:\/\/www.covalence.ch\/index.php\/wp-json\/wp\/v2\/post_series?post=6009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}